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23 05, 2025

Gold (XAUUSD) Price Forecast: Market Hovers at $3310.48 Pivot, Bulls Eye Breakout Toward $3435

By |2025-05-23T17:22:05+03:00May 23, 2025|Forex News, News|0 Comments


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23 05, 2025

Pound Sterling shows no signs of slowing down

By |2025-05-23T17:21:02+03:00May 23, 2025|Forex News, News|0 Comments

  • GBP/USD trades at its highest level since February 2022 near 1.3500.
  • Retail Sales in the UK rose at a stronger pace than expected in April.
  • The US Dollar stays under heavy selling pressure on fiscal concerns.

After struggling to find direction on Thursday, GBP/USD extends its weekly uptrend and trades at its highest level since February 2022 near 1.3500 in the European morning on Friday. The technical outlook points to overbought conditions but the pair’s correction attempts could remain short-lived.

British Pound PRICE This week

The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the US Dollar.

USD EUR GBP JPY CAD AUD NZD CHF
USD -1.41% -1.58% -1.32% -1.19% -0.88% -1.20% -1.25%
EUR 1.41% -0.19% 0.15% 0.29% 0.68% 0.28% 0.17%
GBP 1.58% 0.19% 0.04% 0.48% 0.87% 0.47% 0.36%
JPY 1.32% -0.15% -0.04% 0.15% 0.62% 0.33% 0.13%
CAD 1.19% -0.29% -0.48% -0.15% 0.32% -0.01% -0.12%
AUD 0.88% -0.68% -0.87% -0.62% -0.32% -0.39% -0.48%
NZD 1.20% -0.28% -0.47% -0.33% 0.01% 0.39% -0.11%
CHF 1.25% -0.17% -0.36% -0.13% 0.12% 0.48% 0.11%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

The UK’s Office for National Statistics reported early Friday that Retail Sales rose by 1.2% on a monthly basis in April, following the 0.1% increase recorded in March. This print came in better than the market expectation of 0.2% and boosted Pound Sterling to begin the European session.

On the other hand, the US Dollar (USD) stays under strong selling pressure after managing to keep its footing on the back of upbeat flash S&P Global Purchasing Managers Index (PMI) data releases for May on Thursday. Investors grow increasingly concerned over the US debt staying on an unsustainable path after United States (US) President Donald Trump’s sweeping tax and spending bill passed the Republican-controlled House of Representatives on Thursday.

The bill now moves to the Senate, which will kick off deliberations after the Memorial Day holiday and will try to have a vote before July 4.

In the absence of high-impact macroeconomic data releases, the USD could have a difficult time finding demand heading into the weekend, allowing GBP/USD to end the week decisively higher.

GBP/USD Technical Analysis

The Relative Strength Index (RSI) indicator on the 4-hour chart rose above 70 for the first time since late April, reflecting overbought conditions in the near term.

On the downside, 1.3440-1.3450 (static level, former resistance) aligns as immediate support before 1.3400 (static level, round level) and 1.3360 (50-period Simple Moving Average). Looking north, additional gains toward 1.3560 (static level from February 2022) and 1.3600 (static level, round level) could be seen once GBP/USD stabilizes above 1.3500 (static level, round level).

Pound Sterling FAQs

The Pound Sterling (GBP) is the oldest currency in the world (886 AD) and the official currency of the United Kingdom. It is the fourth most traded unit for foreign exchange (FX) in the world, accounting for 12% of all transactions, averaging $630 billion a day, according to 2022 data.
Its key trading pairs are GBP/USD, also known as ‘Cable’, which accounts for 11% of FX, GBP/JPY, or the ‘Dragon’ as it is known by traders (3%), and EUR/GBP (2%). The Pound Sterling is issued by the Bank of England (BoE).

The single most important factor influencing the value of the Pound Sterling is monetary policy decided by the Bank of England. The BoE bases its decisions on whether it has achieved its primary goal of “price stability” – a steady inflation rate of around 2%. Its primary tool for achieving this is the adjustment of interest rates.
When inflation is too high, the BoE will try to rein it in by raising interest rates, making it more expensive for people and businesses to access credit. This is generally positive for GBP, as higher interest rates make the UK a more attractive place for global investors to park their money.
When inflation falls too low it is a sign economic growth is slowing. In this scenario, the BoE will consider lowering interest rates to cheapen credit so businesses will borrow more to invest in growth-generating projects.

Data releases gauge the health of the economy and can impact the value of the Pound Sterling. Indicators such as GDP, Manufacturing and Services PMIs, and employment can all influence the direction of the GBP.
A strong economy is good for Sterling. Not only does it attract more foreign investment but it may encourage the BoE to put up interest rates, which will directly strengthen GBP. Otherwise, if economic data is weak, the Pound Sterling is likely to fall.

Another significant data release for the Pound Sterling is the Trade Balance. This indicator measures the difference between what a country earns from its exports and what it spends on imports over a given period.
If a country produces highly sought-after exports, its currency will benefit purely from the extra demand created from foreign buyers seeking to purchase these goods. Therefore, a positive net Trade Balance strengthens a currency and vice versa for a negative balance.

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23 05, 2025

Platinum price resumes the rise– Forecast today – 23-5-2025

By |2025-05-23T15:21:18+03:00May 23, 2025|Forex News, News|0 Comments


Copper price began today’s trading with a new positivity by surpassing the barrier at $4.6600, announcing its readiness to activate the bullish track in the current period, the unionism of providing positive momentum by the main indicators will reinforce the chances for achieving several gains, to reach the initial target at $4.7500, to press on 61.8% Fibonacci correction level at $4.8100.

 

Note that activating the negative track requires forming a sharp decline, to settle below $4.5000 level, to confirm targeting several negative stations that begin at $4.4300 and $4.3100.

 

The expected trading range for today is between $4.6100 and $4.7500

 

Trend forecast: Bullish

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23 05, 2025

USD/CAD Forecast: Trump Tax Bill Sparks US Debt Worries

By |2025-05-23T15:20:05+03:00May 23, 2025|Forex News, News|0 Comments

  • The USD/CAD forecast indicates a growing likelihood that Trump’s tax bill will be passed into law.
  • Traders are pricing a 67% chance of a Fed rate cut in September.
  • Market participants are pricing a 27% chance of a BoC rate cut in June.

The USD/CAD forecast indicates a growing likelihood that Trump’s tax bill will be passed into law, increasing the US government’s debt and hurting the dollar. Meanwhile, in Canada, BoC rate cut expectations have fallen significantly, supporting the loonie. 

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The US dollar fell on Thursday and Friday after Trump’s tax bill passed through the House of Representatives. This development increased US fiscal health worries, prompting investors to dump US assets. On Monday, Moody’s cut the US government’s credit rating due to its growing debt. The move hurt investor confidence. If Trump’s bill passes, it will increase the government’s debt, further shaking confidence in the economy. 

Furthermore, the fiscal worries overshadowed a report on Thursday showing an improvement in US business activity. Fed policymakers are still cautiously watching incoming data for signs of weakness after Trump’s tariffs. Downbeat economic data will increase pressure on the central bank to lower borrowing costs. At the moment, traders are pricing a 67% chance of a cut in September. 

Meanwhile, BoC rate cut bets continued falling after Canada’s hotter-than-expected core inflation figures. Market participants are pricing a 27% chance of a rate cut in June, meaning there is a higher likelihood of a pause. However, policymakers will keep studying incoming data. 

USD/CAD key events today

  • Canada core retail sales m/m
  • Canada retail sales m/m

USD/CAD technical forecast: Bears eye the 1.3800 support level

USD/CAD Forecast: Trump Tax Bill Sparks US Debt Worries
USD/CAD 4-hour chart

On the technical side, the USD/CAD price has continued its slide after breaking out of its triangle pattern. The price trades well below the 30-SMA, while the RSI is nearing the oversold region. This shows the bearish bias is strong. 

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After the breakout, the price paused its decline to make a lower high. At the moment, bears have returned and are about to break below the previous low. Such a move would strengthen the bearish bias. Moreover, a strong move could push the price below the 1.3800 level, confirming a new downtrend.

On the other hand, if the 1.3800 support holds firm, the price might bounce to retest the 1.3900 resistance level. Still, the bearish bias will hold if the price remains below the 30-SMA.

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23 05, 2025

The coffee price repeats the negative attempts– Forecast today – 23-5-2025

By |2025-05-23T13:20:45+03:00May 23, 2025|Forex News, News|0 Comments


The GBPJPY pair succeeded to surpass the negative pressures after facing the moving average 55, which formed extra support at 192.10, forming some bullish waves and its stability near 193.30 to increase the chances for activating the previously waited bullish attack.

 

By the above image, we notice stochastic rally above 20 level, to reinforce the chances for gaining the positive momentum, to keep our bullish expectations to target 194.60 level.

 

The expected trading range for today is between 192.60 and 194.60

 

Trend forecast: Bullish

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23 05, 2025

The EURJPY settles above the support– Forecast today – 23-5-2025

By |2025-05-23T13:19:16+03:00May 23, 2025|Forex News, News|0 Comments

Copper price began today’s trading with a new positivity by surpassing the barrier at $4.6600, announcing its readiness to activate the bullish track in the current period, the unionism of providing positive momentum by the main indicators will reinforce the chances for achieving several gains, to reach the initial target at $4.7500, to press on 61.8% Fibonacci correction level at $4.8100.

 

Note that activating the negative track requires forming a sharp decline, to settle below $4.5000 level, to confirm targeting several negative stations that begin at $4.4300 and $4.3100.

 

The expected trading range for today is between $4.6100 and $4.7500

 

Trend forecast: Bullish

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23 05, 2025

Gold (XAUUSD) Price Forecast: Price Stalls – Breakout or Breakdown Ahead?

By |2025-05-23T11:19:58+03:00May 23, 2025|Forex News, News|0 Comments


20-Day MA Holds as Support

If the 20-Day line can continue to show as support, then gold may have a chance to go a little higher towards the next target around the 78.6% Fibonacci retracement at $3,371. Since that price level is currently aligned with the convergence of two trendlines, there remains a possibility that it is touched before the current advance from trendline support reached last week is complete. Moreover, the convergence suggests a key pivot level where an upside-breakout could be followed by a move as demand kicks in.

Advance Stalls

A decline below today’s low shows short-term weakness and could lead to a test of support around $3,252. Further down is the 50-Day MA, now at $3,191. Along with the lower trendline the 50-Day MA marks potential dynamic support for the uptrend. The current upswing began following the November 2024 lows following a failed upside breakout of a rising trend channel (blue) on April 11. It reestablishes the integrity of the trend and therefore the possibility of a continuation higher. Subsequently, as long as gold trades above the 50-Day MA, the market is indicating it is prepared to go higher. Also, since the 20-Day MA is being recognized, it provides a shorter-term indicator for strength or weakness.

Weekly Closing Will Provide Clue

It is interesting to note that the two previous weekly upside breakouts failed, and each week ended with the price of gold below the prior week’s high. In other words, the weekly breakouts were not confirmed. A third weekly breakout occurred this week. The breakout will be confirmed by a weekly closing price above last week’s high of $3,292. One way to think about it is if the breakout confirms the chance of at least reaching the $3,371 price area improves. If this week ends below last week’s high, consolidation within the declining channel may prevail.

For a look at all of today’s economic events, check out our economic calendar.



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23 05, 2025

GBP/USD Forecast: Pound Sterling “Mid Performer” Following US, UK PMIs

By |2025-05-23T11:18:39+03:00May 23, 2025|Forex News, News|0 Comments

May 23, 2025 – Written by Ben Hughes

The Pound-to-Dollar exchange rate (GBP/USD) was rangebound on Thursday following the release of the US’s and UK’s preliminary S&P Global PMIs.

At the time of writing, GBPUSD was trading at approximately $1.3425, virtually unchanged from the start of Thursday’s session.

The US Dollar (USD) advanced against most major peers on Thursday, supported by stronger-than-expected PMI data for May.

Fresh figures from S&P Global revealed an uptick in both the manufacturing and services sectors, surprising markets who had projected a slowdown.

Manufacturing activity jumped to 52.3, defying expectations of a decline to 50.1, while the services PMI also rose to 52.3, indicating a broad-based expansion.

Commenting on the data, S&P’s Chris Williamson noted an encouraging rebound in business sentiment, crediting the easing of tariff pressures for lifting outlooks.

The upbeat economic data boosted confidence in the US economy and helped lift the ‘Greenback’ against a range of currencies, although gains against the Pound were more limited.




Sterling traded steadily on Thursday, and even rose against several of its counterparts, following the release of the UK’s latest PMI readings for May.

Although manufacturing activity remained in contraction, with the index edging down to 45.1, the services sector surprised to the upside.

The services PMI climbed back above the 50 threshold, exceeded economists’ expectations by hitting 50.2, and signalled a return to modest growth.

This glimpse of resilience in the UK’s dominant services industry offered some reassurance to markets, helping the Pound maintain its footing during Thursday’s European session.

“GBP is down 0.2% vs. the USD and a mid-performer among the G10, trading relatively well despite a generally disappointing preliminary PMI release. The manufacturing print disappointed with a relatively deep contractionary print of 45.1 while services climbed just above the expansion threshold, printing 50.2.” – Scotiabank

The Pound US Dollar (GBP/USD) exchange rate could come under pressure on Friday, with investors eyeing the UK’s latest retail sales data for direction.

April’s figures are expected to indicate a slowdown in consumer activity, with sales growth forecast to ease from 0.4% to 0.2%.




Any downside surprise could sour sentiment towards Sterling by fuelling concerns about the UK economy.

Meanwhile, with a quiet end to the week for US economic releases, the spotlight may shift to a scheduled speech from a Federal Reserve policymaker.

If the remarks lean dovish, the US Dollar could extend its recent losses, adding another layer of volatility to the currency pair heading into the weekend.

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23 05, 2025

ICICI Bank Slashes 2025 Brent Crude Forecast to $60–$70 Amid Weak Demand

By |2025-05-23T09:19:16+03:00May 23, 2025|Forex News, News|0 Comments


Crude oil prices are expected to trade with a downward bias throughout 2025, according to a new report by ICICI Bank. The bank has significantly lowered its Brent crude oil price forecast for the year, citing a combination of rising global supply and subdued demand. Brent prices are now projected to remain in the range of $60 to $70 per barrel, with a potential dip to as low as $55 per barrel if bearish trends persist.

This marks a substantial downward revision from ICICI Bank’s previous forecast of $65 to $80 per barrel. The bank now estimates that the average price of Brent crude in 2025 will be around $65, compared to an earlier projection of $72 per barrel.
The primary driver behind this revised outlook is an anticipated net supply surplus of 1 million barrels per day (mbpd) over the course of the year. This surplus stems from a combination of sluggish global demand growth and increased oil production from both OPEC and non-OPEC countries. The report notes that this marks a clear transition from the conditions seen in 2024, when the market was grappling with a supply deficit during the same period.

ICICI Bank highlights that historically, a surplus in global oil supply tends to exert downward pressure on prices, and early data from March and April 2025 already points to this trend taking shape. The bank warns that unless there is a significant geopolitical disruption—such as tensions escalating in the Middle East, particularly involving Iran—or a strong demand recovery driven by Chinese economic stimulus, oil prices are unlikely to rebound meaningfully.
“In the absence of major supply shocks or demand accelerators, crude prices are expected to remain subdued for the rest of the year,” the report stated.

With global oil markets shifting into a phase of oversupply and demand staying weak, ICICI Bank believes the crude oil market is entering a transitional phase, and 2025 could witness persistently low oil prices unless the balance shifts significantly. The bank’s assessment underscores growing concerns among analysts about a prolonged period of pressure in the energy sector.

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23 05, 2025

XAG/USD posts monthly highs above $32.50 due to safe-haven demand

By |2025-05-23T07:16:58+03:00May 23, 2025|Forex News, News|0 Comments


  • Silver price advances due to rising safe-haven demand amid growing US fiscal concerns.
  • The safe-haven demand increases amid rising geopolitical tensions in the Middle East.
  • Ukraine will ask the European Union to seize Russian assets after President Trump pulled back from tightening sanctions.

Silver price (XAG/USD) rises to near $32.60 per troy ounce during the Asian trading hours on Thursday, gaining ground for the third successive session. Precious metals, including Silver, attract buyers amid rising safe-haven demand over growing fiscal concerns in the United States (US).

Moody’s downgraded the US credit rating from Aaa to Aa1, following similar downgrades by Fitch Ratings in 2023 and Standard & Poor’s in 2011. Moody’s also predicted that US federal debt is expected to climb to around 134% of GDP by 2035, up from 98% in 2023, with the budget deficit expected to widen to nearly 9% of GDP. This deterioration is attributed to rising debt-servicing costs, expanding entitlement programs, and falling tax revenues.

Additionally, the ongoing geopolitical unrest in the Middle East dampens the risk sentiment and drives investors toward safe-haven assets like Silver. However, Prime Minister Benjamin Netanyahu said that Israel would charge ahead with a military campaign to gain total control of Gaza, in the event of, failure of the return of hostages. Reuters cited the Israeli military as saying to let 100 aid trucks into the Gaza Strip on Wednesday, as UN officials reported that distribution issues had meant that no aid had so far reached people in need.

Next week, Ukraine is set to ask the European Union (EU) to seize Russian assets and put sanctions on some buyers of Russian Oil. As President Trump backed off from tightening sanctions, Ukraine will present an unreported white paper to the EU, asking 27-member countries to take an independent position on sanctions.

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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